With an overall vacancy rate of 3% nationally, Canada's rental markets can present opportunities for investors in some smaller B.C. regions.
In B.C. urban areas and suburbs in close proximity to downtown Vancouver tends to trend below 1% vacancies. Though pricey, demand on cities like Burnaby and East Vancouver provide landlords with a steady source of income and potential for an increase in property value.
Kelowna and New Westminster per-door prices are relatively cheaper than Burnaby and East Vancouver and offer higher cap rates for mid-range investors. .
B.C's 5 best picks for landlord markets in 2018 are:
1. Victoria with a rental vacancy rate of 0.7%. An average 1 bedroom rents for $1,070 with an average price per suite of $215,000 and rising.
2. Kelowna with a rental vacancy rate of 0.2%. An average 1 bedroom rents for $1,150 with an average price per suite of $135,000.
3. New Westminster with a rental vacancy rate of 1.1%. An average 1 bedroom rents for $1,330 with an average price per suite of $288,474.
4. East Vancouver with a rental vacancy rate of 0.3%. An average 1 bedroom rents for $1.460 with an average price per suite of $390,349.
5. Burnaby with an average vacancy rate of 0.6%. An average 1 bedroom rents for $1,380 with an average price per suite of $332,132.
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